Poland’s economic growth remains stable at 3.1 pct in Q2

The Central Statistical Office of Poland released the estimate of Poland’s second quarter GDP growth. According to the data, the economic growth remained stable at 3.1 percent year-on-year in the quarter. KBC Market Research noted in a research report that the estimated headline figure is slightly lower than its projection. On a quarter-on-quarter basis, the seasonally adjusted gross domestic product rose 0.9 percent in the second quarter, stated Central Statistical Office.

On a seasonally unadjusted basis, the economic growth came in at 3.1 percent year-on-year. The view of the Polish economic outlook continues to be positive. The economy is expected to expand between 3 percent and 3.5 percent, thanks to the upbeat changes in the labor market that would immediately change into a robust growth of households consumption, said KBC Market Research.

Delving into Poland’s second quarter GDP data, investment was seen sharply dropping 4.9 percent year-on-year, considerably dragging the overall year-on-year GDP growth. It negatively contributed 0.9 percentage points. However, this might be a temporary phenomenon and hence should not be overemphasized, added KBC Market Research.